A Beginner’s Guide to HGV Insurance

If you drive a Heavy Goods Vehicle (HGV), the law states it must have suitable insurance. Whether you want to insure one lorry or a whole fleet, here is our beginner’s guide to HGV cover.

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Types of Insurance

An HGV is defined as a vehicle that weighs more than 3.5 tonnes; it can also be referred to as a Large Goods Vehicle (LGV).

Similar to car insurance, the minimum legal requirement for HGV insurance is third-party cover, which pays the other party if your actions lead to damage or injury.

Third party, fire and theft covers your lorry if it is stolen or involved in a fire, in addition to third-party cover.

Fully comprehensive insurance will cover your lorry and others against damage if you are involved in an accident. There are also insurance policies to cover broken windscreens and legal and medical expenses if you are in an accident.

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The Cost

The cost of cover for your HGV will depend on several elements, such as the intended use of the lorry, its value and the age of the driver and the vehicle.

Even if you do not drive your HGV, it must be insured unless you register it as off-the-road (Statutory Off Road Notification) through the Government website.

Which Policy Do You Need?

Talking to a firm such as https://www.quotemetoday.co.uk/hgv-insurance can provide the perfect level of insurance for your HGV requirements. It is vital that you take out the right level of cover without paying unnecessarily for extras you do not need.

In addition to third-party or fully comprehensive cover, you may also want to consider some additions, such as:

– European cover if you regularly drive into Europe and the UK
– Insurance for goods in transit. This depends on the use of your lorry, but this insurance policy covers the cost of all goods you are carrying if they are destroyed or damaged while you are on the road.
– HGV breakdown cover
– Multiple driver cover if you plan for your vehicle to be driven by more than one person.
– Legal costs insurance

If you are running a business, buying an insurance bundle of more than one type could save you money. For example, buying insurance for HGVs alongside public liability or employer’s liability insurance could make financial sense.

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